Unit owners crushed by $40m loss of views
1 Apr 2010
OWNERS in a prime North Sydney apartment block say a NSW government decision to approve the construction of two new commercial towers will wipe up to $40 million from the value of their homes.
The Planning Minister, Tony Kelly, cut five storeys from a commercial development on Walker and Berry streets in North Sydney but still approved towers up to 34 storeys high which will block sweeping harbour views - a decision a leading property valuer says will cut the value of many units by more than a third.